Xcel Energy (NASDAQ:XEL) Issues Quarterly Earnings Results

Xcel Energy (NASDAQ:XEL) released its earnings results on Friday. The company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.03), RTT News reports. Xcel Energy had a return on equity of 10.52% and a net margin of 11.75%. The company had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.98 billion. During the same quarter in the previous year, the company earned $1.18 EPS. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. Xcel Energy updated its FY23 guidance to $3.32-3.37 EPS and its FY24 guidance to $3.50-3.60 EPS.

Xcel Energy Price Performance

Shares of NASDAQ:XEL opened at $58.31 on Monday. The company has a market cap of $32.16 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 2.74 and a beta of 0.41. The business has a 50 day moving average price of $57.88 and a 200 day moving average price of $62.37. The company has a quick ratio of 0.68, a current ratio of 0.80 and a debt-to-equity ratio of 1.42. Xcel Energy has a twelve month low of $53.73 and a twelve month high of $72.99.

Xcel Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 20th. Stockholders of record on Friday, September 15th were paid a $0.52 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.57%. Xcel Energy’s payout ratio is presently 65.82%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on XEL. Morgan Stanley cut their price objective on Xcel Energy from $61.00 to $58.00 and set an “equal weight” rating for the company in a report on Wednesday, October 25th. KeyCorp cut their price target on Xcel Energy from $71.00 to $62.00 and set an “overweight” rating for the company in a research note on Thursday, October 5th. Evercore ISI lowered their price target on Xcel Energy from $66.00 to $62.00 and set an “outperform” rating for the company in a research note on Friday, September 15th. Royal Bank of Canada dropped their price objective on Xcel Energy from $76.00 to $67.00 and set a “sector perform” rating on the stock in a report on Wednesday, September 6th. Finally, Barclays reduced their target price on shares of Xcel Energy from $60.00 to $57.00 and set an “equal weight” rating for the company in a research note on Monday, October 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $65.23.

Institutional Investors Weigh In On Xcel Energy

Several hedge funds and other institutional investors have recently modified their holdings of XEL. Ameritas Investment Partners Inc. raised its holdings in Xcel Energy by 0.8% in the 1st quarter. Ameritas Investment Partners Inc. now owns 19,660 shares of the company’s stock valued at $1,418,000 after acquiring an additional 156 shares in the last quarter. Stephens Inc. AR raised its stake in shares of Xcel Energy by 5.6% in the second quarter. Stephens Inc. AR now owns 3,281 shares of the company’s stock valued at $204,000 after purchasing an additional 174 shares in the last quarter. Nwam LLC lifted its position in Xcel Energy by 5.8% in the first quarter. Nwam LLC now owns 3,224 shares of the company’s stock worth $217,000 after purchasing an additional 177 shares during the period. IFP Advisors Inc boosted its stake in Xcel Energy by 1.6% during the second quarter. IFP Advisors Inc now owns 11,461 shares of the company’s stock worth $713,000 after buying an additional 178 shares in the last quarter. Finally, Zions Bancorporation N.A. increased its holdings in Xcel Energy by 6.2% in the 1st quarter. Zions Bancorporation N.A. now owns 3,197 shares of the company’s stock valued at $231,000 after buying an additional 186 shares during the period. Institutional investors and hedge funds own 77.83% of the company’s stock.

Xcel Energy Company Profile

Xcel Energy Inc, through its subsidiaries, generates, purchases, transmits, distributes, and sells electricity. It operates through Regulated Electric Utility, Regulated Natural Gas Utility, and All Other segments. The company generates electricity through coal, nuclear, natural gas, hydroelectric, solar, biomass, oil, wood/refuse, and wind energy sources.